Welcome to our dedicated page for Amerant Bancorp news (Ticker: AMTB), a resource for investors and traders seeking the latest updates and insights on Amerant Bancorp stock.
Amerant Bancorp Inc (AMTB) delivers comprehensive banking services through its subsidiary, offering deposit accounts, commercial lending, and wealth management solutions. This news hub provides investors and stakeholders with essential updates to monitor the company's financial trajectory.
Access timely press releases covering quarterly earnings, leadership appointments, and strategic initiatives. Our curated collection includes regulatory filings, product launches, and market expansion announcements critical for assessing AMTB's position in the competitive banking sector.
Discover updates on commercial lending programs, digital banking enhancements, and wealth management service expansions. Content is organized to highlight operational milestones while maintaining compliance with financial disclosure standards.
Bookmark this page for streamlined access to verified AMTB developments. Combine these resources with SEC filings and earnings call transcripts for a complete view of the company's performance and industry impact.
Amerant Bank has announced the formation of Amerant Mortgage, LLC, a joint venture aimed at capitalizing on the booming residential mortgage market in Florida. The bank retains majority ownership of the JV, which will leverage the expertise of seasoned executives from the residential mortgage sector, including Howard Levine and Tony Eelman. The venture aims to deliver exceptional client experiences and a range of mortgage products, amidst a favorable economic backdrop of low interest rates and increasing demand.
Amerant Bancorp Inc. has appointed Gerald P. Plush as its new Vice Chairman and Chief Executive Officer, effective after the filing of the 2020 Annual Report, expected in March. Plush, a seasoned financial services professional with over 30 years of experience, will lead the company into its next growth phase, focusing on profitability and shareholder value. He succeeds Millar Wilson, who will retire after a 12-year tenure, during which he significantly expanded Amerant’s assets from $6 billion to nearly $8 billion and oversaw its public offering in 2018.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) is set to report its fourth quarter 2020 earnings on January 29, 2021, before market opening. CEO Millar Wilson and CFO Carlos Iafigliola will present the financial results during a conference call at 9:30 AM ET, which will be available through the company's website and via telephone. Investors can join by dialing 866-987-6807 domestically or 630-652-5946 internationally, using conference ID 9558279. The information may provide insights into Amerant's financial health and operational performance.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced the results of its tender offer to buy up to $50 million of Class B common stock, which closed on December 18, 2020. The offer was oversubscribed with 4,940,037 shares tendered, and the company accepted 4,249,785 shares at $12.55 each, totaling approximately $53.3 million. This buyback represents about 32% of Class B shares and is expected to increase tangible book value per share by $0.74. Future repurchases may occur depending on market conditions.
Amerant Bancorp announced the preliminary results of its modified Dutch auction tender offer to repurchase up to $50 million of Class B common stock. The offer expired on December 18, 2020, and was oversubscribed, with 4,940,289 shares tendered. The company plans to purchase 4,249,785 shares at $12.55 each, for a total cost of approximately $53.3 million. This represents about 32% of the outstanding Class B shares. A preliminary proration rate of 86.07% was established, with final figures to be confirmed post-settlement.
Amerant Bancorp Inc. has announced an adjustment to the price range of its modified Dutch auction tender offer to buy up to $50 million of its Class B common stock. The new price range is between $11.05 and $12.55 per share. The tender offer is set to expire on December 18, 2020. If fully subscribed, this could result in a repurchase of 30% to 34% of the issued Class B shares, depending on the final purchase price. Shareholders must retender shares due to the price range change, and the offer is not contingent on financing.
Amerant Bancorp has initiated a modified “Dutch auction” tender offer to repurchase up to $50 million of its Class B common stock between $9.65 and $12.55 per share. This offer, set to expire on December 18, 2020, allows shareholders to indicate how many shares and at what price they wish to tender. If fully subscribed, the company could acquire 3,984,063 to 5,181,347 shares, representing 30% to 39% of outstanding shares as of November 12, 2020.
Amerant Bancorp reported a net income of $1.7 million for Q3 2020, a recovery from a net loss of $15.3 million in Q2 2020. However, net income for the first nine months of 2020 totaled a loss of $10.2 million, compared to $37.9 million in profit for the same period last year. Operating income decreased 46.6% from Q2 to $11.5 million and was down 9.8% year-over-year. The bank showed improved credit quality with loans under forbearance dropping significantly to $101.2 million. ROA and ROE improved from the previous quarter but remained negative for the first nine months of the year.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced it will report its third-quarter 2020 earnings on October 29, before market opening. The conference call will be hosted by CEO Millar Wilson and CFO Carlos Iafigliola at 9:30 AM ET to discuss financial results. Investors can access the call via dial-in numbers or through a live webcast on the company's investor relations website. Amerant Bancorp is the largest community bank in Florida, operating 27 banking centers and providing various banking services to U.S. individuals and businesses.
Amerant Bank has been awarded the Innovation Award by Mastercard in the annual Community Institution Segment Awards for its outstanding technological advancements that enhance customer experience. This recognition highlights Amerant's commitment to innovation, community impact, and leadership in the banking sector. The bank operates 27 centers primarily in Florida and Texas, providing various financial services to both individuals and businesses. CEO Millar Wilson expressed gratitude towards the team for their dedication and creativity in delivering effective digital solutions.
